Yoshiharu Closes $1.0 Million Private Placement Equity Investment to Advance Expansion into Korean BBQ Segment
02 October 2024 - 10:31PM
Yoshiharu Global Co. (NASDAQ: YOSH) ("Yoshiharu" or
the "Company"), a restaurant operator specializing in
authentic Japanese ramen & rolls, today announced the closing
of a non-brokered $1.0 million private placement investment from an
accredited investor and intends to use these proceeds for the
Company’s expansion into the Korean BBQ (“KBBQ”) segment.
As previously-announced, Yoshiharu has
identified a growing trend of demand for KBBQ cuisine,
predominantly in Southern California, as the popularity of Korean
food has expanded American’s rising appetites for Korean BBQ.
Having operated in the restaurant sector since 2016, Yoshiharu has
leveraged its extensive industry experience and expertise to build
a robust network of supply chain stakeholders essential for
successful restaurant operations. Recognizing the synergies between
its existing suite of culinary offerings and the KBBQ concept, the
Company plans to capitalize on the synergies of resources and
ingredients for both segments to enhance purchasing power, attract
a wider audience, and explore cross-promotion opportunities to
further solidify and expand the Yoshiharu brand.
"This private equity investment will allow
Yoshiharu to establish a footprint in the growing Korean BBQ
market," said James Chae, Yoshiharu’s President, CEO, and Chairman
of the Board. "Yoshiharu will leverage our industry expertise and
robust supply chain to capitalize on the synergies between the KBBQ
concept and our current Japanese ramen offering as we look to
expand the Yoshiharu brand as a leader in the restaurant industry.
We are expecting to make additional announcements soon as other
investors want to join the Company’s KBBQ business.”
About Yoshiharu Global Co.
Yoshiharu (NASDAQ: YOSH) is a fast-growing
restaurant operator and was born out of the idea of introducing the
modernized Japanese dining experience to customers all over the
world. Specializing in Japanese ramen, Yoshiharu gained recognition
as a leading ramen restaurant in Southern California within six
months of its 2016 debut and has continued to expand its top-notch
restaurant service across Southern California and Las Vegas,
currently owning and operating 14 restaurants.
For more information, please visit
www.yoshiharuramen.com.
Forward Looking Statements
This press release includes certain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including without
limitation, statements regarding our position to execute on our
growth strategy, and our ability to expand our leadership position.
These forward-looking statements include, but are not limited to,
the Company's beliefs, plans, goals, objectives, expectations,
assumptions, estimates, intentions, future performance, other
statements that are not historical facts and statements identified
by words such as "expects", "anticipates", "intends", "plans",
"believes", "seeks", "estimates" or words of similar meaning. These
forward-looking statements reflect our current views about our
plans, intentions, expectations, strategies and prospects, which
are based on the information currently available to us and on
assumptions we have made. Although we believe that our plans,
intentions, expectations, strategies and prospects as reflected in,
or suggested by, these forward-looking statements are reasonable,
we can give no assurance that the plans, intentions, expectations
or strategies will be attained or achieved. Forward-looking
statements involve inherent risks and uncertainties which could
cause actual results to differ materially from those in the
forward-looking statements, as a result of various factors
including those risks and uncertainties described in the Risk
Factors and Management's Discussion and Analysis of Financial
Condition and Results of Operations sections of our filings with
the SEC including our Form 10-K for the year ended December 31,
2023, and subsequent reports we file with the SEC from time to
time, which can be found on the SEC's website at www.sec.gov. Such
risks, uncertainties, and other factors include, but are not
limited to: the risk that our plans to maintain and increase
liquidity may not be successful to remediate our past operating
losses; the risk that we may not be able to successfully implement
our growth strategy if we are unable to identify appropriate sites
for restaurant locations, expand in existing and new markets,
obtain favorable lease terms, attract guests to our restaurants or
hire and retain personnel; that our operating results and growth
strategies will be closely tied to the success of our future
franchise partners and we will have limited control with respect to
their operations; the risk that we may face negative publicity or
damage to our reputation, which could arise from concerns regarding
food safety and foodborne illness or other matters; the risk that
that minimum wage increases and mandated employee benefits could
cause a significant increase in our labor costs; and the risk that
our marketing programs may not be successful, and our new menu
items, advertising campaigns and restaurant designs and remodels
may not generate increased sales or profits. We urge you to
consider those risks and uncertainties in evaluating our
forward-looking statements. We caution readers not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. The Company undertakes no obligation to update
these statements for revisions or changes after the date of this
release, except as required by law.
Investor Relations Contact:
Larry W HolubDirectorMZ North
AmericaYOSH@mzgroup.us 312-261-6412
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